11/12/2009 | By Matthew Bechard
By Matthew Bechard
The National Association of Real Estate Investment Trusts® (NAREIT®), in collaboration with ENERGY STAR®, today honored several of its member companies for demonstrating superior and sustained energy use practices.
"Our 'Leader in the Light' award recognizes company-wide operations which generate substantially improved energy efficiency and expense management," explained NAREIT Executive Vice President for Finance and Operations Sheldon M. Groner.
This year's "Leader in the Light" Award recipients:
Gold: Thomas Properties Group (Nasdaq: TPGI)
Silver (tie): HCP, Inc. (NYSE: HCP), Vornado Realty Trust (NYSE: VNO), Wells Real Estate Funds (publicly registered, non-exchange traded)
Bronze (tie): Hines REIT, Inc. (publicly registered, non-exchange traded), Simon Property Group (NYSE: SPG)
Honorable Mention: AMB Property Corporation. (NYSE: AMB), Macerich (NYSE: MAC), ProLogis (NYSE: PLD)
"Even in challenging market condition, companies are showing that a focus on sustainability and energy efficiency is not only a positive for the company and the environment, but also for shareholders," Groner said. "The companies that are being honored have implemented innovative and effective measures to improve portfolio-wide energy performance."
Groner said special recognition goes to Simon Property Group, which has earned a "Leader in the Light" award for five-consecutive years, dating back to the award's inception in 2005.
The "Leader in the Light" Awards were presented during REITWorld 2009: NAREIT's Annual Convention in Phoenix. This year's judges were: David Stanford, RealFoundations; Maria Vargas, U.S. Environmental Protection Agency; and, Mark Vorreuter, Cornell University.